Villaraigosa seeks to end city investment in weapons makers

Source: LAT

Los Angeles Mayor Antonio Villaraigosa said that he has asked the city's three pension funds to review all investments and work to end those in companies that manufacture assault weapons.

Invoking the Sandy Hook Elementary School shooting that left 27 dead in Newtown, Conn., last month, Villaraigosa on Wednesday said it was inappropriate for the city to make money off of weapons manufacturers.

"It's a moral and financial imperative to end our relationship with these companies," said the mayor, who added that it was unclear how much pension money was invested in weapons makers.

"I don't want to make a quarter, not a penny, not a dime off of companies that make those weapons of war," he later added.

2. It's political theater, but the sort of political theater I like. nt

7. Yes... it's undoubtedly theater

Yes... it's undoubtedly theater, but it wouldn't be as such if the popularity were not in place to allow it. Although the law may be benign in and of itself on a wholly practical level, that it is happening at all tells me that there may be a shift in the collective will of the people to see this through, and bring the discussion to the fore.

4. Will he stop taking all of the federal money for "terrorism"?

All that money is going to is military weapons manufacturers. The militarization of the police force in the name of terrorism and drugs is getting out of hand.

Watch any police "reality" show, and they will move in on a house in full SWAT gear, with military rifles, flash-bang grenades, camo, all on an armored personnel carrier. Sometimes all they get is a gram of cocaine at best.

It is better to make a penny off of them than to be part of the reason those funds are performing, which is the continued demand for upgraded weapons, that used to be reserved for a very small portion of law enforcement.

I am not against his effort, but I believe it is just another "feel good" measure that most won't see through.

10. Here's the top 100 holdings

Lots of treasuries and the standard diverse holdings up would expect: oil companies, some tobacco, Microsoft/Apple/Google, some big banks and investment firms. Didn't see any gun manufacturers pop out but many are privately held.

13. Villaraigosa is a howling sack of shit. Here he is calling the use of children's sidewalk chalk

This video after he had LAPD shoot up artwalk with tasers and rubber bullets after arresting multiple artwalkers for using said chalk. Note that the business lobby in LA, the CCA, brags on their web page regarding their influence in city hall. Villaraigosa is their tool. CCA's plans for the future of downtown includes the end of "intelligence-based graffiti", which means anything, even disappearing children's chalk, for political messages. I've posted about this before.